Listing ID589525
Price$399,000
StatusActive
Bedrooms4
Total Baths2
SqFt
1,809
Acres
0.230
CountyFresno
Year Built1954
Property TypeMulti-Family
Property Sub TypeDuplex
Welcome to this 2 unit Duplex with office zoning! 707 E Shields and 3220 N Wishon. This property is currently a 5.4% cap ($21,744 net annual income), with low rents and a pro forma cap rate of 9.1% ($36,694 net annual income). Each unit is 2 bedrooms 1 bath with a fireplace + a bonus room/office and a living room. Besides normal maintenance, this property was renovated in 2017 complete with tile plank flooring, baseboards and granite countertops. Also the kitchen and bathroom was updated in 3220 N Wishon. Each unit has their own central heating and cooling systems and there is a large garage with laundry hookups on site as well. There is additional paved parking for 2 vehicles behind the house with ally entrance. One tenant currently occupies both units for a total of $1,850/month NNN + $150 Tax & Insurance reimbursements ($2,000 total monthly). The NNN reimbursements gets readjusted annually or when a new lease is signed. The current tenant lives in 3220 and operates his business out of 707. The current lease expiration for both units is April 30,2023. The market rents for the entire building are $3,000 + $500 NNN reimbursements ($3,500 monthly). I have attached both the actual and pro forma P&L on MLS along with several photos, floor plan and site plan as well. Please drive by only, Do Not Disturb The Tenant, Offer Subject to Inspection.
County
Fresno
Property Sub Type
Duplex
Property Type
Multi-Family
Year Built
1954
Dishwasher
None
Fireplace
All Units
Floor
Wood Subfloor
Heating/Cooling
Central Heat/Cool
Stories
One
Stove
All units
Exterior
Other
Garage Spaces
1
Gas & Electric
Public Utilities
Lot Measurement
SqFt
Lot Square Footage
10018
Parking
One Space per Unit
Roofing
Composition
Sewer/Water
Public Water, Public Sewer
Site Amenities
Corner
APN
43531525
Area
704
Cross Street Address
Wishon & Shields
Directions
Going West on Shields, pass Maroa, the property is on the North East corner of Shields and Wishon.
FIPS Code
19
School District
Fresno Unified
School Name 1
Fresno
School Name 2
Fort Miller
School Name 3
Del Mar
School Type 1
High School
School Type 2
Junior High School
School Type 3
Grade School
Association
Fresno MLS
Cumulative Days On Market
33
Days On Market
33
Documents Available
Floor Plan, Leases, Cash Flow Analysis
Lot Size Source
(Tax Records)
Property Disclaimer
Information herein deemed reliable but not guaranteed, representations are approximate, individual verification recommended.
Square Footage Source
Tax Records
Total Buildings
1
Total Units
2
1st Loan Type
Non-Assumable
Agreement Type
Exclusive Right To Sell
Annual Expense
2056
Annual Income
23800
Expenses Include
Insurance, Taxes
Income Includes
Unit Rent, Other
Lease Type
Net
Net Income
21744
Price Per Acre
1734782.61
Price Per Square Foot
220.56
REO/Bank Owned
no
Sale/Options
Total Parcel Only
Sources of Income/Expenses
Owner
Tenant Pays
Electricity, Gas, Water, Sewer, Trash Collection
Terms
Cash, Limited Financing
Transaction Type
Sale
Listing courtesy of Aram J. Melikian of Real Broker
Contact - Listing ID 589525
Fresno Income Properties - Paul Gestic
7575 N. Del Mar Avenue, Suite 102
Fresno, CA 93711
Phone: 559-438-9410
Data services provided by IDX Broker
